Thursday, March 20, 2008

$79M 4Q loss

The full 2007 details are in this Tribune report in which Zell said in part, "In addition, we have begun a strategic review of certain Tribune assets to determine whether capital can be more effectively redeployed into our core operations or toward reducing our outstanding leverage."

Selling assets is part of Zell's strategy to turn the highly-leveraged company around: The old Tribune sold the Stamford Advocate and the Greenwich Times last November, but the offices and production plants weren't part of the deal. They're on the block now. Price tag unknown at this time.

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